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A lot of people tend to forget there will be two Bitcoin hard forks in the next few weeks All eyes are on SegWit2x, but Bitcoin Gold shouldn’t be overlooked either. The bigger question is which wallets and exchanges will support this concept. Right now, no one has been officially confirmed, which is quite problematic. For a fork which happens in 10 days from now, there is still plenty of work to be done.

It is commendable the Bitcoin Gold team wants to go ahead with their plan. Launching yet another fork of Bitcoin is highly controversial at this point in time. With SegWit2x on the horizon, there doesn’t need t be even more confusion right now. Sadly, we have to handle the cards we are dealt in this regard. The problem with BTG is how there is so much information that remains hidden from the public. Either that, or no one wants to support this unnecessary altcoin.

Things Look Bleak for Bitcoin Gold

To be more specific, it remains unclear how people will obtain Bitcoin Gold. No wallets or exchanges currently support this upcoming hard fork. Despite a launch date of October 25th, the lack of support is quite telling. Very few people want to deal with BTG right now, which shouldn’t come as much of a surprise to anyone whatsoever, There is no benefit of this airdrop other than getting free coins which currently have no value.

Without wallets or exchanges to support Bitcoin Gold, there can’t be an official airdrop. No major or minor service provider wants to touch this currency. No big surprise, as we know very little about BTG at this point in time. The website isn’t helping much either, as it remains as blank as ever. Rest assured few people are buying Bitcoin to get BTG right now, as there is no reason to even try and do that

The overall Bitcoin community isn’t too amused by this new fork either. An understandable position, as there is enough garbage in the altcoin industry already. Another coin riding the Bitcoin coattails won’t do anyone any favors. Bitcoin is and will be the world’s leading cryptocurrency for a long time to come. It is not without flaws or shortcomings, but nothing can rival it in terms of price right now. That situation will change at some point, but it won’t be Bitcoin Gold who takes the crown by any means.

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

Bitcoin yesterday reached a new all-time high as cryptocurrency insiders try to figure out why. According to several industry analysts the mere rumor of Amazon acceptance is partially responsible, with tales of China reversing its exchange ban providing further market optimism.

Rumors that Amazon will accept Bitcoin are nothing new and we weren’t able to substantiate the latest one. But that hasn’t stopped the value of Bitcoin from reaching it’s new all time high of $5,856.

At the time of this writing Bitcoin value has surged from $3,874 a month ago, to $4,370 a week ago, and now it’s worth a whopping $5,678.

Cryptocurrency pundits are scrambling to explain the surge, citing the impending forks as one possible cause. Others point to rumors that China may soon relax its stance on Bitcoin exchanges and allow them to open again – which, like the Amazon rumor, also appears unsubstantiated.

One expert, James Altucher, (according to this blog post) claims Amazon will announce it’ll start taking cryptocurrency on October 26th, during its next earnings call. However, his assertions have come under scrutiny by some cryptocurrency websites.

That’s not stopping speculation however, it isn’t like Amazon has come out and denied it will ever accept Bitcoin. Its storefront operates at the edge of the online-commerce frontier, we’re certain it’ll have some blockchain technology soon, and Bitcoin acceptance could follow. Overstock.com has been taking Bitcoin and other cryptocurrency for years now, so the idea isn’t exactly hard to swallow.

If the mere rumor of Amazon accepting cryptocurrency can cause value to rise by thousands of dollars in mere weeks, imagine what the outlook would be if it turned out to be true.

A cryptocurrency coin worth five digits certainly seems possible if Altucher turns out to be right, but we won’t hold our breath.